09:05     SUN HUNG KAI CO<00086> - Results Announcement (1)                   

    Sun Hung Kai & Co. Limited announced on 12/04/2005:                       
    (stock code: 00086 )                                                      
    Year end date: 31/12/2004                                                 
    Currency: HKD                                                             
    Auditors' Report: Unqualified                                             
                                                                              
                                                            (Audited   )      
                                         (Audited   )       Last              
                                         Current            Corresponding     
                                         Period             Period            
                                         from 01/01/2004    from 01/01/2003   
                                         to 31/12/2004      to 31/12/2003     
                                   Note  ('000      )       ('000      )      
    Turnover                           : 807,015            667,461           
    Operating Profit/(Loss) before                                            
      Finance Costs                    : 271,389            157,569           
    Finance cost                       : (19,725)           (14,423)          
    Operating Profit/(Loss) after                                             
      Finance Costs                 2  : 251,664            143,146           
    Share of Profit/(Loss) and Amortization of                                
      Goodwill/Negative Goodwill of                                           
      Associated Cos.                  : 265,199            156,608           
    Share of Profit/(Loss) and Amortization of                                
      Goodwill of Jointly Controlled                                          
      Entities                         : (3,624)            1                 
    Profit/(Loss) after Tax & MI       : 384,795            241,914           
    % Change over Last Period          : +59.06    %                          
    EPS/(LPS)-Basic (in dollars)    3  : 0.309              0.187             
             -Diluted (in dollars)  3  : N/A                N/A               
    Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
    Profit/(Loss) after ETD Items      : 384,795            241,914           
    Final Dividend                     : 2 cents            2 cents           
      per Share                                                               
    (Specify if with other             : N/A                N/A               
      options)                                                                
                                                                              
    B/C Dates for                                                             
      Final Dividend                   : 24/05/2005         to 27/05/2005 bdi.
    Payable Date (for both Final and                                          
      Special Dividend)                : 09/06/2005                           
    B/C Dates for (-)                                                         
      General Meeting                  : N/A                                  
    Other Distribution for             : Special Dividend of 4 cents per Share
      Current Period                                                          
                                                                              
    B/C Dates for Other                                                       
      Distribution                     : 24/05/2005         to 27/05/2005 bdi.
                                                                              
    Remarks:                                                                  
                                                                              
    1.      Recently Issued Accounting Standards                              
                                                                              
    The Hong Kong Institute of Certified Public Accountants has issued a      
    number of new and revised Hong Kong Financial Reporting Standards and Hong
    Kong Accounting Standards ("new HKFRSs") which are effective for          
    accounting periods beginning on or after 1 January 2005.                  
                                                                              
    The Group has not early adopted these new HKFRSs in the financial         
    statements for the year ended 31 December 2004. The Group has already     
    commenced an assessment of the impact of these new HKFRSs but is not yet  
    in a position to state whether these new HKFRSs would have a significant  
    impact on its results of operations and financial position.               
                                                                              
                                                                              
    2.      Operating Profit after Finance Costs                              
                                                                              
    The operating profit after finance costs includes the following items:    
    (a)     Other Income                                                      
                                            Group                             
                                    2004            2003                      
                                    HK$'000         HK$'000                   
                                                                              
    Amortization of negative goodwill on acquisition of subsidiary companies  
                                         9,565           3,829                
    Loss arising from default of loan agreement with Millennium Touch Limited 
    written back                  2,847           26,412                      
    Net exchange gains              288             -                         
    Profit on disposal of an associated company                               
                                    -               1,146                     
    Profit on deemed disposal of a jointly controlled entity                  
                                    942             -                         
    Profit on disposal of other investments                                   
                                    2,483           -                         
    Provision for doubtful debts written back                                 
                                    16,615          42,036                    
    Revaluation deficit of investment properties written back                 
                                    6,100           200                       
    Miscellaneous income            1,523           9,285                     
                                    -----------------------                   
                                    40,363          82,908                    
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